Plan Outline
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SIC 7011 Hotels, Rooming Houses, Camps, and Other Lodging Places - Hotels and motels
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Skate Park Skiing Business Plan
Skate Park NW
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Financial Plan
The following sections will outline important financial information.
8.1 Important Assumptions
The following table details Important Assumptions.
| General Assumptions | |||
| Year 1 | Year 2 | Year 3 | |
| Plan Month | 1 | 2 | 3 |
| Current Interest Rate | 10.00% | 10.00% | 10.00% |
| Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
| Tax Rate | 30.00% | 30.00% | 30.00% |
| Other | 0 | 0 | 0 |
8.2 Break-even Analysis
The Break-even analysis indicates that approximately $13,500 will be needed in monthly revenue to reach the Break-even point.
| Break-even Analysis | |
| Monthly Revenue Break-even | $13,588 |
| Assumptions: | |
| Average Percent Variable Cost | 14% |
| Estimated Monthly Fixed Cost | $11,683 |
8.3 Projected Profit and Loss
The following table and charts will indicate Projected Profit and Loss.
| Pro Forma Profit and Loss | |||
| Year 1 | Year 2 | Year 3 | |
| Sales | $125,717 | $235,082 | $276,221 |
| Direct Cost of Sales | $17,625 | $41,385 | $49,573 |
| Other Costs of Sales | $0 | $0 | $0 |
| Total Cost of Sales | $17,625 | $41,385 | $49,573 |
| Gross Margin | $108,092 | $193,698 | $226,647 |
| Gross Margin % | 85.98% | 82.40% | 82.05% |
| Expenses | |||
| Payroll | $84,000 | $97,000 | $109,000 |
| Sales and Marketing and Other Expenses | $3,600 | $3,600 | $3,600 |
| Depreciation | $13,992 | $13,992 | $13,992 |
| Rent | $16,500 | $21,000 | $21,000 |
| Utilities | $4,700 | $5,300 | $5,600 |
| Insurance | $4,800 | $4,800 | $4,800 |
| Payroll Taxes | $12,600 | $14,550 | $16,350 |
| Other | $0 | $0 | $0 |
| Total Operating Expenses | $140,192 | $160,242 | $174,342 |
| Profit Before Interest and Taxes | ($32,100) | $33,456 | $52,305 |
| EBITDA | ($18,108) | $47,448 | $66,297 |
| Interest Expense | $0 | $0 | $0 |
| Taxes Incurred | $0 | $10,037 | $15,692 |
| Net Profit | ($32,100) | $23,419 | $36,614 |
| Net Profit/Sales | -25.53% | 9.96% | 13.26% |
8.4 Projected Cash Flow
The following table and chart will indicate Projected Cash Flow.
| Pro Forma Cash Flow | |||
| Year 1 | Year 2 | Year 3 | |
| Cash Received | |||
| Cash from Operations | |||
| Cash Sales | $125,717 | $235,082 | $276,221 |
| Subtotal Cash from Operations | $125,717 | $235,082 | $276,221 |
| Additional Cash Received | |||
| Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 |
| New Other Liabilities (interest-free) | $0 | $0 | $0 |
| New Long-term Liabilities | $0 | $0 | $0 |
| Sales of Other Current Assets | $0 | $0 | $0 |
| Sales of Long-term Assets | $0 | $0 | $0 |
| New Investment Received | $0 | $0 | $0 |
| Subtotal Cash Received | $125,717 | $235,082 | $276,221 |
| Expenditures | Year 1 | Year 2 | Year 3 |
| Expenditures from Operations | |||
| Cash Spending | $84,000 | $97,000 | $109,000 |
| Bill Payments | $51,788 | $100,434 | $115,304 |
| Subtotal Spent on Operations | $135,788 | $197,434 | $224,304 |
| Additional Cash Spent | |||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
| Principal Repayment of Current Borrowing | $0 | $0 | $0 |
| Other Liabilities Principal Repayment | $0 | $0 | $0 |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
| Purchase Other Current Assets | $0 | $0 | $0 |
| Purchase Long-term Assets | $0 | $0 | $0 |
| Dividends | $0 | $0 | $0 |
| Subtotal Cash Spent | $135,788 | $197,434 | $224,304 |
| Net Cash Flow | ($10,071) | $37,648 | $51,916 |
| Cash Balance | $42,873 | $80,522 | $132,438 |
8.5 Projected Balance Sheet
The following table will indicate the Projected Balance Sheet.
| Pro Forma Balance Sheet | |||
| Year 1 | Year 2 | Year 3 | |
| Assets | |||
| Current Assets | |||
| Cash | $42,873 | $80,522 | $132,438 |
| Other Current Assets | $0 | $0 | $0 |
| Total Current Assets | $42,873 | $80,522 | $132,438 |
| Long-term Assets | |||
| Long-term Assets | $70,000 | $70,000 | $70,000 |
| Accumulated Depreciation | $13,992 | $27,984 | $41,976 |
| Total Long-term Assets | $56,008 | $42,016 | $28,024 |
| Total Assets | $98,881 | $122,538 | $160,462 |
| Liabilities and Capital | Year 1 | Year 2 | Year 3 |
| Current Liabilities | |||
| Accounts Payable | $8,037 | $8,274 | $9,585 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 |
| Subtotal Current Liabilities | $8,037 | $8,274 | $9,585 |
| Long-term Liabilities | $0 | $0 | $0 |
| Total Liabilities | $8,037 | $8,274 | $9,585 |
| Paid-in Capital | $190,000 | $190,000 | $190,000 |
| Retained Earnings | ($67,056) | ($99,156) | ($75,737) |
| Earnings | ($32,100) | $23,419 | $36,614 |
| Total Capital | $90,844 | $114,263 | $150,877 |
| Total Liabilities and Capital | $98,881 | $122,538 | $160,462 |
| Net Worth | $90,844 | $114,263 | $150,877 |
8.6 Business Ratios
The following table indicates the Business Ratios for this plan as well as the industry.
| Ratio Analysis | ||||
| Year 1 | Year 2 | Year 3 | Industry Profile | |
| Sales Growth | 0.00% | 86.99% | 17.50% | 3.50% |
| Percent of Total Assets | ||||
| Other Current Assets | 0.00% | 0.00% | 0.00% | 27.24% |
| Total Current Assets | 43.36% | 65.71% | 82.54% | 33.11% |
| Long-term Assets | 56.64% | 34.29% | 17.46% | 66.89% |
| Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
| Current Liabilities | 8.13% | 6.75% | 5.97% | 13.25% |
| Long-term Liabilities | 0.00% | 0.00% | 0.00% | 37.31% |
| Total Liabilities | 8.13% | 6.75% | 5.97% | 50.56% |
| Net Worth | 91.87% | 93.25% | 94.03% | 49.44% |
| Percent of Sales | ||||
| Sales | 100.00% | 100.00% | 100.00% | 100.00% |
| Gross Margin | 85.98% | 82.40% | 82.05% | 100.00% |
| Selling, General & Administrative Expenses | 111.51% | 72.43% | 68.80% | 75.44% |
| Advertising Expenses | 0.00% | 0.00% | 0.00% | 1.71% |
| Profit Before Interest and Taxes | -25.53% | 14.23% | 18.94% | 1.72% |
| Main Ratios | ||||
| Current | 5.33 | 9.73 | 13.82 | 1.31 |
| Quick | 5.33 | 9.73 | 13.82 | 0.97 |
| Total Debt to Total Assets | 8.13% | 6.75% | 5.97% | 57.21% |
| Pre-tax Return on Net Worth | -35.33% | 29.28% | 34.67% | 1.10% |
| Pre-tax Return on Assets | -32.46% | 27.30% | 32.60% | 2.56% |
| Additional Ratios | Year 1 | Year 2 | Year 3 | |
| Net Profit Margin | -25.53% | 9.96% | 13.26% | n.a |
| Return on Equity | -35.33% | 20.50% | 24.27% | n.a |
| Activity Ratios | ||||
| Accounts Payable Turnover | 7.44 | 12.17 | 12.17 | n.a |
| Payment Days | 27 | 30 | 28 | n.a |
| Total Asset Turnover | 1.27 | 1.92 | 1.72 | n.a |
| Debt Ratios | ||||
| Debt to Net Worth | 0.09 | 0.07 | 0.06 | n.a |
| Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
| Liquidity Ratios | ||||
| Net Working Capital | $34,836 | $72,247 | $122,853 | n.a |
| Interest Coverage | 0.00 | 0.00 | 0.00 | n.a |
| Additional Ratios | ||||
| Assets to Sales | 0.79 | 0.52 | 0.58 | n.a |
| Current Debt/Total Assets | 8% | 7% | 6% | n.a |
| Acid Test | 5.33 | 9.73 | 13.82 | n.a |
| Sales/Net Worth | 1.38 | 2.06 | 1.83 | n.a |
| Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
